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Wesley Developments EIN 95-2810896

Wesley Developments FY2022 filing

EIN  95-2810896 Public charity (501(c)(3)) San Diego, CA
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Provides affordable housing for seniors and people with disabilities.
Leadership
Greg Estep · President
Money in and out
$114K revenue, $193K expenses
Bottom line
100% program efficiency

Provides affordable housing for seniors and people with disabilities. For fiscal year 2022 it reported $114K in revenue, $193K in expenses, and $166K in net assets.Pt I

Where the money goes · FY2022
Total revenue
$114K
Pt VIII · Ln 12
Total expenses
$193K
Pt IX · Ln 25
Net assets
$166K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$79K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs
Operating runway
10.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
-69%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$114K
FY2022▲ ×26
Expenses
$193K
FY2022▼ -54%
Total assets
$520K
FY2022▼ -83%
Total liabilities
$353K
FY2022▼ -87%
Total revenue
$114K
Pt VIII · Ln 12
Total expenses
$193K
Pt IX · Ln 25
Net assets
$166K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$79K
Total assetsPt X · Ln 16$520K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

1 program service account for $193K of program spending, described in the organization's own filed words · FY2021.
01

The organization provided low-income housing for the elderly and all expenditures are directed towards this purpose. Prior to September 6, 2019, the entity owned the asset providing apartments to low-income elderly individuals.

$193Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWesley Developments
EINHdr · item D95-2810896
Principal addressHdr · item CSan Diego, CA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L21Z)
Ruling yearIRS BMFMay 1985

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Greg Estep
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Joseph Huynh
Director
$0Pt VII · Sec A
Daniel Le
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue100%$114K
Investment income$26
Other revenue$134
Total revenueLn 12$114K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$193K
Total functional expensesLn 25$193K

Balance Sheet

Part X · end of year
CashLn 1$166K
Total assetsLn 16$520K
Total liabilitiesLn 26$353K
Total net assetsLn 32$166K
Months of cash on handcomputed10.3

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $166K · Operating expenses/yr $193K
10.3 months
Where the money goes
Program services
Program services $193K · Total expenses $193K
100%
Management & General
Management & general $0 · Total expenses $193K
0%
Fundraising
Fundraising $0 · Total expenses $193K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $114K
0%
Government reliance
Government grants — · Total revenue $114K
—
Earned-income share
Program service revenue $114K · Total revenue $114K
100%
Investment reliance
Investment income $26 · Total revenue $114K
0%
Program self-sufficiency
Program service revenue $114K · Total expenses $193K
59%
Growth & trend
Revenue growth (YoY)
This year $114K · Prior year $4K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $166K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $114K · Expenses $193K
-69%
Liabilities-to-Assets
Total liabilities — · Total assets $520K
—
Net-asset ratio
Net assets $166K · Total assets $520K
32%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $520K
0%
People & payroll
Highest Reported Total Compensation
Individual Greg Estep · Reported title President · Highest reported compensation $0 · Total expenses $193K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $193K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%——
Overhead ratio 0%——
Revenue growth ×26——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 0%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 9 grants · $14.1M · 2019–2024
Wesley United Methodist ChurcFY2024$146,400
Wesley Community Services CenterCA · FY2024$30,000
La Mesa First Methodist ChurcFY2024$6,000
Wesley Community Services CenterCA · FY2021$165,000
Wesley United Methodist ChurcFY2021$15,000
Wesley United Methodist ChurcFY2020$240,000
Wesley Community Services CenterCA · FY2020$164,625
Wesley United Methodist ChrucFY2019$13,165,352
Wesley Community Services CenterCA · FY2019$162,399

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$148K revenue · ⤓ 990 PDF
FY2023$173K revenue · ⤓ 990 PDF
FY2022$114K revenue · viewing · ⤓ 990 PDF
FY2021$4K revenue · ⤓ 990 PDF
FY2020$9.6M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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